How much should coin premiums be over spot?
 

I am trying to look for some general advice at how much of a premium I should pay over spot for bullion coins. Dollar amounts or percentages would be helpful. For example, should I set my limit at $2 over spot to buy Canadian Silver Maple Leafs?

Re: How much should coin premiums be over spot?
 

I can usually get silver maples and silver eagles for a dollar fifty over spot at coin shows, you have to bargain a little. Some dealers will not budge though and they want 2 dollars over spot.

Re: How much should coin premiums be over spot?
 

California Numismatics is about 1.55 or so over spot in medium size quantities. Their website is www.golddealer.com

Re: How much should coin premiums be over spot?
 

I feel like Donald Trump when I say this........why the hell do you people worry about cents when you are going to make dollars?

Even if you were to buy 100 coins that would be only $200.00 over spot, so what? those $200.00 will some day bacome $2,000.

"Think small and you will stay small"... Ponce

Re: How much should coin premiums be over spot?
 

The other day I went to the local coin shop and silver was at about 9.00 or so. The guy has walking libertys for 10.00...while 1 oz generic rounds for 9.50.

Took 2 secs to realize what I should be buying ;) (made out with every single liberty he had)

If it is reasonable...go with the liberty. What is "reasonable"? That is up to you ;)

Re: How much should coin premiums be over spot?
 

grandpa always told me you make your profit in anything on the buy side. While Silver may or may not go to the moon only a fool would knowingly line a dealer's pockets. Get the best deal you can.

Re: How much should coin premiums be over spot?
 

I would have bought the generic rounds myself.

Re: How much should coin premiums be over spot?
 

silver eagles and maples are great investments, but only if you buy them for the price that you get when you buy the larger quantities. the $1.55 over spot seems to be about what you will pay in the large quantities. You can find them for that in lesser quantities, but is not easy. i have noticed at local dealers that they tend to keep their sell prices somewhat constant on the eagles no matter what the spot price is doing. My local dealer has been selling eagles for $9.50 for the last year, no matter what the spot price has been doing because most of his inventory has been bought at lower prices and he sticker prices all of his eagles individually and he doesn't want to change them. So, I have been happily buying them and he has happily been selling them to me. But, this is not always the case, eventually, if silver stays in the mid $8 range, he will re-sticker them up. But, for now, I keep buying a handful a week.

Re: How much should coin premiums be over spot?
 

I would have also bought the generic rounds ---- Called getting the most silver for the money ---which IMVVHO is going to be the highest percentage of increase

Re: How much should coin premiums be over spot?
 

At current spot, for every $200 you pay in premiums, that is 23 1/2 ounces of silver you are foregoing in the process. Take that 23 1/2 ounces and multiply by whatever level you think silver is going to in the future, and you will quickly understand why it is best to get the most ounces you possibly can for your dollars. You "might" recoup some of the premium in the future, you might not. When silver eventually (?) hits those lofty price levels, you will be much better off with extra physical metal than a bunch of wishful premium.

Re: How much should coin premiums be over spot?
 

Well said Au Nuggets

Re: How much should coin premiums be over spot?
 

I have been looking over prices on Ebay and Coin Dealer websites and I have noticed buying in large amounts is the way to go. Buying larger dollar amounts of bullion coins is the way to save money on premiums for the coin and shipping. Percentage wise there is a lot less premium buying a gold maple leaf off of ebay than say a silver maple leaf.

Re: How much should coin premiums be over spot?
 

don't know about that

I guess a lot would demand upon one's own personal world {God} outlook

I can very well see {imagine} the USA government saying

you can keep the rounds but turn in your 90% and your liberties for some new Fiats { ... then the people holding the rounds would be screwed ... or the max one could hope for is a steep % point down from the official price of the official usa coins ... }

just saying that one aspect of how the big boys play is knowing who to trust &

who sets the rules

oneness
dh

Re: How much should coin premiums be over spot?
 

Using the basic assumption that you are an investor and not a collector, the major rule of thumb for any business is:

You make money when you buy, not when you sell.

Buy as much as you can for as little as you can.